The Daily Journal. — U.S. President Donald Trump announced Friday that Washington had reached an energy agreement with the Venezuelan government that he described as “the largest oil deal in world history,” under which U.S. companies will assume majority control over more than 65 billion barrels of proven crude oil reserves. In a message posted […]
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Venezuela faces more than US$240 billion in debt, equivalent to 216% of its GDP, according to Bloomberg reports The Daily Journal.- Venezuela’s debt continues to grow as the government of Acting President Delcy Rodríguez prepares a comprehensive restructuring of the country’s external obligations. According to Bloomberg, a new arbitration award in favor of U.S. insurer […]
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The Daily Journal.- Venezuela’s oil industry showed conflicting signals in July: while production continued to expand slightly, crude exports fell sharply, according to OPEC’s monthly report and shipping data. Secondary sources cited by OPEC placed Venezuelan production at 1.117 million barrels per day (bpd) in July, just 13,000 bpd above June’s 1.104 million bpd. The […]
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The Daily Journal.- Oxford Economics cut its 2026 growth forecast for Venezuela by two percentage points to 6.3% after factoring in the impact of the June 24 earthquakes, Bloomberg reported. The firm also made a more modest adjustment to its 2027 forecast. It now expects the economy to grow 15.5%, one-tenth of a percentage point […]
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The Daily Journal.- Oil prices rose on Friday amid growing uncertainty over a potential agreement between Iran and Oman to reopen the Strait of Hormuz. The market, which had hoped for an imminent solution earlier in the week, turned nervous again after Tehran signaled its intention to ban U.S. and Israeli vessels from passing through […]
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The Daily Journal.— Following the events of January 3, 2026, and amid changing relations between Venezuela and the United States, the fate of Venezuelan state funds frozen abroad has once again become a major issue. According to Bloomberg, Washington is considering a partial release of frozen assets, estimated at between $20 billion and $30 billion, […]
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The Daily Journal — Venezuela’s oil exports declined in July as demand from India weakened after the ceasefire in the conflict involving Iran allowed Middle Eastern crude cargoes stranded in the Persian Gulf to reach international markets, Bloomberg reported. July data tracked by Kpler Ltd. show that shipments of Venezuelan crude to India, one of […]
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the long-awaited negotiations over what could become the largest sovereign debt restructuring in more than a decade. More than 15 investment funds have joined the Venezuela Creditors Committee since the United States captured former President Nicolás Maduro in early January, according to a person familiar with the matter. The arrival of new investors has strengthened […]
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The Daily Journal — Fluxus Oil, Gas & Energy, owned by Brazilian businessmen Joesley and Wesley Batista, has acquired a stake in a Venezuelan oil production project, according to a Bloomberg report. The transaction adds to a series of private agreements that have emerged following the sanctions relief promoted by the administration of U.S. President […]
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Bloomberg — Pacific Coast Energy Co. (PCEC), a small California-based oil producer, is close to securing an agreement to develop Venezuelan oil fields as the U.S.-backed government in Caracas pushes prospective partners to sign contracts before the end of July. PCEC is one of several companies negotiating joint ventures and production-sharing agreements with Petróleos de […]
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